Citi Trends

Citi Trends Provides Additional COVID-19 Retail Stores and Business Update

Retrieved on: 
Tuesday, April 28, 2020
Fashion, Other Retail, Discount, Variety, Retail, Specialty, Citi Trends, Companies, CTRN, Citigroup, Economy of New York City, Economy of the United States

Citi Trends, Inc. (NASDAQ: CTRN) today provided an update on additional actions the Company is taking in response to the coronavirus (COVID-19) pandemic.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today provided an update on additional actions the Company is taking in response to the coronavirus (COVID-19) pandemic.
  • At Citi Trends, the health, safety and well-being of our employees, customers and the communities we serve remains our highest priority.
  • As such, as of this past weekend, the Companys stores in Arkansas have safely reopened with reduced operating hours.
  • Citi Trends, Inc. is a value-priced retailer of fashion apparel, accessories and home goods for the entire family.

Citi Trends Provides Additional Business Update in Response to COVID-19 Outbreak

Retrieved on: 
Tuesday, March 31, 2020
Retail, Specialty, Discount, Variety, Fashion, Citi Trends, Companies, Culture, CTRN, Citigroup, Forward-looking statement, Retail, Economy of New York City, Fashion

The Savannah corporate office will also be temporarily closed for all but minimum basic operations.

Key Points: 
  • The Savannah corporate office will also be temporarily closed for all but minimum basic operations.
  • Our guiding principle is that we will continue to prioritize the health and safety of our associates, customers and the communities we serve, said David Makuen, Citi Trends Chief Executive Officer.
  • Citi Trends, Inc. is a value-priced retailer of fashion apparel, accessories and home goods for the entire family.
  • CTRN-G
    All statements other than historical facts contained in this news release are forward-looking statements that are subject to material risks and uncertainties.

Citi Trends Draws Down on Credit Facility

Retrieved on: 
Monday, March 23, 2020
Consulting, Other Retail, Banking, Professional services, Health, Discount, Variety, Specialty, Fashion, Infectious diseases, Retail, Finance, Economy, Credit, Citi Trends, Personal finance, CTRN, Revolving credit, Line of credit

Citi Trends, Inc. (NASDAQ: CTRN) announced today that it has drawn down $43.7 million in principal amount under its committed $50 million revolving credit facility.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) announced today that it has drawn down $43.7 million in principal amount under its committed $50 million revolving credit facility.
  • The Companys borrowing under its revolving credit facility was a proactive measure taken by the Company to increase its cash position and preserve financial flexibility in light of current uncertainties resulting from the coronavirus (COVID-19) outbreak.
  • In accordance with the terms of the revolving credit facility, the proceeds from this borrowing may in the future be used for working capital, general corporate purposes or other purposes permitted by the revolving credit facility.
  • Citi Trends, Inc. is a value-priced retailer of fashion apparel, accessories and home goods for the entire family.

Citi Trends Provides Update on COVID-19 Response

Retrieved on: 
Friday, March 20, 2020
Fashion, Other Retail, Discount, Variety, Retail, Specialty, Citi Trends, Companies, Culture, Retail, Citigroup, Economy of New York City, Fashion

Citi Trends currently expects its stores to remain closed for two weeks and plans to re-open on April 3, 2020.

Key Points: 
  • Citi Trends currently expects its stores to remain closed for two weeks and plans to re-open on April 3, 2020.
  • We therefore made the difficult, but necessary, decision to temporarily close our stores and distribution facilities, said David N. Makuen, Citi Trends Chief Executive Officer.
  • We look forward to reopening our stores and distribution centers and welcoming our valued customers back into Citi Trends.
  • Citi Trends, Inc. is a value-priced retailer of fashion apparel, accessories and home goods for the entire family.

Citi Trends Announces Temporary Reduction in Store Hours Due to Coronavirus and Withdraws Guidance

Retrieved on: 
Thursday, March 19, 2020
Fashion, Retail, Health, Other Retail, Infectious diseases, Discount, Variety, Specialty, Citi Trends, Companies, CTRN, Retail, Citigroup, Economy of New York City, Economy of the United States

Citi Trends, Inc. (NASDAQ: CTRN) today announced that in response to the COVID-19 (coronavirus) outbreak, it will temporarily reduce store hours for all of its retail stores beginning Thursday, March 19, 2020.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today announced that in response to the COVID-19 (coronavirus) outbreak, it will temporarily reduce store hours for all of its retail stores beginning Thursday, March 19, 2020.
  • The Company will continue following other state and local-mandated shutdowns as they arise.
  • Citi Trends, Inc. is a value-priced retailer of urban fashion apparel, accessories and home goods for the entire family.
  • Any forward-looking statements by the Company are intended to speak only as of the date such statements are made.

Citi Trends Announces CEO Appointment and Narrows EPS Guidance

Retrieved on: 
Friday, February 21, 2020
Fashion, Other Retail, Discount, Variety, Retail, Specialty, Companies, Economy of New York City, Citigroup, Midtown Manhattan, Subprime mortgage crisis, Citi Trends, Banks

Mr. Makuen will assume the day-to-day leadership of the Company and will also join Citi Trends Board of Directors.

Key Points: 
  • Mr. Makuen will assume the day-to-day leadership of the Company and will also join Citi Trends Board of Directors.
  • The Companys Chairman of the Board, Brian Carney, commented, We are excited to have David join Citi Trends.
  • Peters guidance over the last few months as Interim CEO and his appointment to Executive Chairman will make for a smooth leadership transition, enabling the team to leverage his extensive knowledge and experience to maximize the strategic initiatives he has spearheaded at Citi Trends.
  • It has been my distinct pleasure and honor as Interim CEO to work alongside the talented and dedicated Citi Trends team.

Citi Trends Declares Dividend

Retrieved on: 
Wednesday, February 19, 2020
Retail, Specialty, Discount, Variety, Fashion, Companies, Citi Trends, Economy of New York City, Citigroup, Culture, CITI-FM, Fashion

As a reminder, Citi Trends previously announced plans to release its earnings for the fourth quarter of 2019 before the market opens on Friday, March 13, 2020.

Key Points: 
  • As a reminder, Citi Trends previously announced plans to release its earnings for the fourth quarter of 2019 before the market opens on Friday, March 13, 2020.
  • Citi Trends will host a conference call on the same day at 9:00 a.m.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com , under the Investor Relations section, on March 13, 2020, beginning at 9:00 a.m.
  • Citi Trends, Inc. is a value-priced retailer of urban fashion apparel, accessories and home goods for the entire family.

Citi Trends Sets Date for Fourth Quarter 2019 Earnings Release and Conference Call

Retrieved on: 
Friday, January 31, 2020
Retail, Specialty, Department Stores, Fashion, Economy of New York City, Companies, Citi Trends, New York City, CTRN, Citigroup, NASDAQ, Fashion, CITI-FM

Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the fourth quarter of 2019 before the market opens on Friday, March 13, 2020.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today announced plans to release its earnings for the fourth quarter of 2019 before the market opens on Friday, March 13, 2020.
  • Citi Trends will host a conference call on the same day at 9:00 a.m.
  • The live broadcast of Citi Trends' conference call will be available online at the Company's website, www.cititrends.com , under the Investor Relations section, on March 13, 2020, beginning at 9:00 a.m.
  • Citi Trends, Inc. is a value-priced retailer of urban fashion apparel, accessories and home goods for the entire family.

Citi Trends Announces 2019 Holiday Sales Results and Planned Retirement of CFO

Retrieved on: 
Monday, January 13, 2020
Cosmetics, Retail, Discount, Variety, Fashion, Companies, Citi Trends, Citigroup, Economy of New York City, Ruth Moschner, Banks

We enter the new year well-positioned to grow Citi Trends business and I look forward to discussing our strategic priorities at the ICR Conference on January 14th.

Key Points: 
  • We enter the new year well-positioned to grow Citi Trends business and I look forward to discussing our strategic priorities at the ICR Conference on January 14th.
  • As part of the succession planning for Mr. Cliffords retirement, Jason B. Moschner has been promoted to Vice President, Finance.
  • Mr. Moschner joined Citi Trends in June 2017 and has served in several roles in the Companys finance organization, most recently as Director of Finance.
  • Citi Trends continues to execute on its strategic initiatives that were first outlined publicly in the second quarter of 2019.

Citi Trends Announces Third Quarter 2019 Results and Next Steps Under Its Capital Return Program

Retrieved on: 
Tuesday, November 26, 2019
Fashion, Other Retail, Discount, Variety, Retail, Specialty, Companies, Citi Trends, CTRN, Primary dealers, Subprime mortgage crisis, Economy of New York City, Citigroup, Banks

Citi Trends, Inc. (NASDAQ: CTRN) today reported unaudited results for the third quarter of fiscal 2019.

Key Points: 
  • Citi Trends, Inc. (NASDAQ: CTRN) today reported unaudited results for the third quarter of fiscal 2019.
  • Financial Highlights Third quarter ended November 2, 2019
    Total sales in the third quarter ended November 2, 2019 increased 4.4% to $183.1 million, compared with $175.4 million in the third quarter ended November 3, 2018.
  • Bruce Smith, President and Chief Executive Officer, commented, In the third quarter, we continued to make meaningful progress with our strategic initiatives.
  • The Companys Board of Directors today announced the authorization of another $25 million share repurchase program as the next step in its expanded capital return program.